Chartist

THE CONTINUATION OF AUDCAD's DOWNTREND

FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD             is having some trouble with the bears. Nothing to worry about because being in a trend can give some very profitable opportunities.

Like this one if it continues to move downward. We all don't know if it's gonna happen but we can get a high probability out of it.

Having a flag pattern or a pendant formation gives you enough information that there's a strong move to the direction of the pole. After that, the flag or pendant starts to occur. Which is mostly a 'slightly moving against the trend'-move which we will name the break or quick rest. In most cases it happen to move further in the overal moving direction.

I have also put the EMA's in it, just to look at what most people think. 'Lower than the EMA's? Ah then it will go down lower.'

Third point is the resistance area that I have blacklighted.

So I built an entry 3 cases strong. A flag pattern alone could have give me enough potential, but I want more to see.
Getting that mental encouragement that you will need while trading!
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